Page 14 - Real Estate

Motilal Oswal invests Rs 260 cr in 3 projects of Urbanrise-Alliance Group

The total saleable area in these three projects would extent to 6.2 million square feet and is expected generate a revenue of Rs 4,600 crore

NAREDCO sets up finance committee to help builders in getting funds

The NFC will also support large-scale projects to access funds via financial institutions and educate members to enhance their credit ratings.

RERA project & agent registrations up by 109% in last 3 years, shows data

The states with maximum project registrations are Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu.

Rents in gated communities in Bengaluru increase by 40%, says report

Traditionally, rents increase by 7-8 per cent in a year but this year they have increased from anywhere between 15-40 per cent.

India's home sales, prices to rise, defying rate hikes: Puravankara CEO

Puravankara Ltd, one of India's top property developers, expects both prices and new home sales to rise in the near future, defying rising interest rates, a top company executive said

Prestige Estates Q2 sales bookings rise 66 pc; H1 bookings jump over 2-fold

Realty firm Prestige Estates Projects Ltd's sales bookings rose 66 per cent year-on-year to Rs 3,511 crore in the second quarter of this fiscal on higher demand despite a rise in home loan interest rates. Prestige Group has registered sales of Rs 3,511 crore in the July-September period against Rs 2,111.9 crore in the year-ago period. The collection from customers increased 68 per cent year-on-year to Rs 2,602.9 crore, the company said in its operational update for the Q2 and H1 of this fiscal filed on stock exchanges. "The sales during this period are attributed to 4.55 million square feet volume with an average realisation of Rs 7,711 per square feet," the company said. During the April-September period of this fiscal, Prestige Group's sales bookings more than doubled to Rs 6,523.1 crore from Rs 2,845.9 crore in the corresponding period of the previous year. The sales during this period are attributed to 8.18 million square feet volume with an average realisation of Rs 7,976 per

Mukesh Ambani purchases beach-side Palm Jumeirah villa in Dubai for $163 mn

The billionaire has been snapping up properties overseas, increasingly looking westward for second homes

Flat buyers' wait for registry gets longer for lack of required certificate

Several builders in Noida have not paid their dues to the development authorities, so they have not been issued OCs and CCs

Jaypee, Amrapali Groups collapse, leaving buyers in difficult state

Amrapali, Jaypee Group were once the leading names in real estate sector

Of 300,000 flats booked, only 125,000 delivered in Gautam Buddha Nagar

People invest their lifetime savings - some in lakhs and some in crores - to get their dream house but in most of the cases they are at the receiving end as they don't get the flats on time

Uday Kotak, Asia's richest banker, weighs $1-bn real estate fund: Report

Kotak Investment plans to complete the fundraising by the end of this year and to embark on its investment in 2023, focusing on residential property in India's top five cities

Air quality-driven construction ban may delay realty projects in Delhi-NCR

568,000 housing units are under various stages of completion. Periodic bans by NGT, govt, or apex court in response to poor air quality have serious consequences, say experts

Odisha AAR says separate registration must for construction work in state

The ruling is in conflict with position taken by other AARs; industry wants CBIC clarification

Upbeat housing demand to lift realty stocks despite rate hikes: Analysts

While rising interest rates are expected to hamper affordability among buyers, analysts expect the underlying need for homeownership to remain strong, which would buoy housing sales going ahead

HDFC Capital Advisors-backed property tech program gets 400 proposals

HDFC Capital Advisors, a subsidiary of mortgage lender HDFC, has raised over Rs 500 crore through global investors

India's real rate shouldn't be more than 1%: MPC member Ashima Goyal

In a Q&A, she says the interest differential with US does not matter so much because India has caps on interest sensitive inflows. Overseas investment is a very low share of the country's debt market

PE investments in retail real estate down 63% to $303 mn in Jan-Sep: Report

Private equity investments in retail real estate space fell 63 per cent to USD 303 million during January-September as investors were concerned about possible impact of high inflation on consumption, according to Knight Frank. The private equity investments in retail stood at USD 817 million in the corresponding period of the last year. "Investors avoided the retail sector due to concerns about the potential negative effects a high inflation environment would have on the sector," real estate consultant Knight Frank India said in a report 'Trends in Private Equity Investments in India (9Month 2022). However, the consultant felt that the retail sector would continue to observe capital commitments from investment platforms that remain bullish on its growth prospects. Since 2011, the retail real estate has attracted USD 3,944 million worth of PE investments through 31 deals. Unlike office assets, investor interest in retail goes beyond major metros, the consultant said. Overall, Knig

IREO group money laundering case: ED attaches assets worth over Rs 1,300 cr

The Enforcement Directorate has attached assets worth more than Rs 1,317 crore of real estate group IREO, its managing director and vice president Lalit Goyal and associated entities as part of a money laundering investigation. The attached properties include land, commercial spaces, plots, residential houses and bank accounts, the federal agency said in a statement issued on Saturday. The total value of these attached properties is Rs 1,317.30 crore. The ED took cognisance of at least 30 FIRs filed in various police stations located in Gurugram, Panchkula, Ludhiana and Delhi against the group, linked entities, its directors, key managerial persons and others, to file a money laundering case. The probe found, the agency said, that the accused allegedly "duped" innocent buyers by promising them to deliver flats, plots, commercial spaces etc.However, they neither delivered the projects nor returned their money. The directors of the company in connivance with others "siphoned off" mo

Strong leasing activity to benefit Real Estate Investment Trusts

But slowdown in the US and rising interest rates could pose risks

TARC Ltd to invest Rs 500 cr to develop its luxury hsg project by 2025 end

The new three-acre project, TARC Tripundra, will have 190 apartments. It is the first under the TARC brand name, although the Anant Raj Group has been into real estate the past four decades